Sentences with phrase «of unemployed homeowners»
Not exact matches
The government has made changes to its Home Affordable Modification Program (HAMP) allowing periods of temporary forbearance and / or modification of mortgage terms for unemployed homeowners; the Department of Housing and Urban Development has also proposed a TARP - funded program to help underwater conventional borrowers qualify for FHA refinance mortgages starting in the fall of 2010.
http://www.fhaloanpros.com/
For example, a repayment plan may be a good choice if the homeowner was unemployed for a period of time and is now re-employed.
Moreover, this situation tends to make the unemployed doubt to use his house (if he is a homeowner) as collateral due to the risk of repossession.
Eligible unemployed homeowners may have their mortgage payments reduced to 31 % or less of their monthly gross income for 3 to 6 months.
The Department of Housing and Urban Development will offer interest - free loans to aid unemployed borrowers with their mortgage payments in 32 states through its Emergency Homeowners» Loan Program.